January 6, 2007

Skype backer takes on ETrade with free trades

Whoa… hmm… wow… you know with other companies charging $7 – $10 just to make a trade it’s so expensive just to be involved. But this makes it available to regular folks much more easily. Will they survive? No one can tell at this point. But it’s interesting nonetheless. Still, the problem is raising the money to invest in the first place…

Morten Lund1, the guy who was the earliest backers of Skype is at it again. He has financed Zecco2, a start-up that will allow consumers to trade stocks for zero commissions, versus $10 to $20 that many online brokers charge today.